Medicinal plants hold a very significant place in the pharmaceutical, cosmetic, and nutraceutical industries. Boswellia serrata is one
of such plants which is used in the pharmaceutical as well as cosmetic industry for so many purposes. This medicinal tree belongs to the family Burseraceae and called Indian Olibanum in English and Salai in Hindi. It is found in many Indian states including Madhya Pradesh, Jharkhand, and Andhra Pradesh etc. It is a well-recognized plant in Ayurvedic pharmacopeia. It is used in folk medicine practices to treat many human ailments such as inflammation, joint pain, cough, diarrhoea, dysentery, stomach pain, edema, hydrocoele, toothache and headache etc. The characteristic feature of the plant is its oleo-gum-resin which is a complex mixture of many therapeutically important phytochemical constituents such as boswellic acids. The main therapeutic activities associated with this plant are anti-inflammatory, anti-diabetic, anti-bacterial, anti-oxidant, hepatoprotective, nephroprotective, diuretic, anti-obesity, analgesic and anti-cancer. The present study has summarized the therapeutic and pharmacological value of Boswellia serrata along with its utilization in the Folklore medicinal system.